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Closing Report: Gold and Silver Gain Nearly 1% - March 7th 2016








Chris Mullen | March 7th

 

Close

Gain/Loss

Gold

$1267.20

+$6.40

Silver

$15.64

+$0.15

XAU

68.93

+3.27%

HUI

178.07

+3.55%

GDM

562.70

+2.33%

JSE Gold

2095.11

-73.93

USD

97.11

-0.16

Euro

110.14

+0.07

Yen

88.16

+0.28

Oil

$37.90

+$1.98

10-Year

1.902%

+0.019

T-Bond

163.625

+0.03125

Dow

17073.95

+0.40%

Nasdaq

4708.25

-0.19%

S&P

2001.76

+0.09%

 
 

 

The Metals:

 

Gold rose almost 1% to $1273.17 in London before it fell to see a slight loss at $1259.51 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.51%.  Silver rose to as high as $15.792 and ended with a gain of 0.97%.

 

Euro gold rose to about €1151, platinum gained $22 to $999, and copper climbed slightly to about $2.28.

 

Gold and silver equities rose roughly 5% in the first 45 minutes of trade before they drifted back lower at times, but they still ended with about 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Jan

$10.5B

$16.5B

$6.4B

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose over 5% on expectations for falling output.

 

The U.S. dollar index erased early gains and ended lower as the euro rebounded ahead of this week’s ECB meeting.

 

Treasuries traded mixed along with the Dow, Nasdaq, and S&P in relatively quiet trade.

 

Among the big names making news in the market today were Verizon, Wells Fargo, Noble Group, T-Mobile, and Apple.

 

GATA Posts:

 

Gata

 

South Africa gold firms get lift from weak rand, but risks lurk

ECB starts reporting unallocated gold, but is it the whole story?

China boosts gold hoard by smallest amount since at least July

Koos Jansen: The Indian government's futile war against its own people over gold

BlackRock gold fund resumed issuing shares too soon, faces penalties

In transparency bid, Chinese central bank reveals some non-dollar reserves

Faith in central banks' healing powers is faltering, BIS says

Geologist Keith Barron describes his road to discovery in Ecuador

U.S. watchdog to probe Fed's lax oversight of Wall Street

Canadian Press finds ignoramuses to provide cover for gold dishoarding

 

The Statistics:

As of close of business: 3/4/2016

Gold Warehouse Stocks:

6,817,143.873

+251.23

Silver Warehouse Stocks:

151,616,993.101

+1,178,885.738

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 exchange traded gold

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

793.117

25,499,516

US$32,328m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,644m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,214m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.15

937,191

US$1,170m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.215 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.07: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,035.00: +88.83 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, Eurasian’s (EMXX) completed royalty purchases, Barrick’s (ABX) tender offer, and Silver Standard’s (SSRI) plans to acquire all of the outstanding common shares of Claude Resources (CGR) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Primero

PPP +17.86% $1.98

2.  Coeur

CDE +11.06% $5.02

3.  First Majestic

AG +9.84% $5.36

 

LOSERS

1.  Silver Standard

SSRI-11.06% $5.95

2.  Avino

ASM -4.42% $1.08

3.  Pretivm

PVG -3.20% $5.45

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

Published:March 7th, 2016
Source: Gold-Seeker.com







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